Comparison of Kucoin vs Bitfinex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Kucoin vs Bitfinex comparison!

Your expert: Alejandro Borja

Kucoin

Your expert: Xavier Tarrasó

Bitfinex

Main points

Fees

≈ 0,10%

Earns

Customer service

4/5

0,10% /0,20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.3 – Competitive fees with additional rewards for using the native token.

4.2 – Low fees for high-volume traders but higher for smaller trades.

Level

≈ 0,10%

0,10% /0,20%

Brief explanation

KuCoin is renowned for its competitive and appealing fee structure, which is a major draw for traders. The exchange operates on a tiered fee system based on the 30-day trading volume, where fees are reduced as trading volume increases. Typical trading fees start at 0.1% for both makers and takers, which is already lower than many other exchanges. Additionally, users can enjoy further discounts on these fees by holding and using KuCoin’s native token, KuCoin Shares (KCS), to pay for trading fees. This incentivizes both higher trading volumes and the use of KCS within the platform, making it economically beneficial for frequent traders and KCS holders alike. Such a fee structure not only enhances trading profitability but also promotes greater liquidity on the platform.

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

Kucoin

Year Founded: Established in 2017, KuCoin has quickly grown to become one of the major players in the cryptocurrency exchange market. Its rapid growth and sustained operation over the years demonstrate its resilience and ability to adapt to the evolving crypto landscape.
Number of Users: KuCoin boasts a substantial user base, with over 8 million traders worldwide. This extensive community not only underscores the exchange's popularity but also enhances its liquidity, making it a reliable platform for executing trades efficiently.
Security Methods: Following the 2020 security breach, KuCoin significantly upgraded its security measures, implementing multi-layer encryption, enhanced authentication methods, and segregated customer wallets. These robust security protocols help in safeguarding user funds against potential threats.
Trading Volume and Liquidity: KuCoin is known for its high trading volume, which ensures liquidity across its numerous trading pairs. This liquidity is crucial for users to execute large trades quickly and at desired prices without substantial price slippage.
Reputation and Reviews: Despite the challenges, KuCoin has maintained a strong reputation within the crypto community. The platform is well-regarded for its wide range of services, competitive fees, and responsive customer support. Positive reviews from users across various forums highlight its usability and the effectiveness of its customer service team.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

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Direct link to the website

Product selection

Native token

Token KCS (KuCoin Shares)

Token LEO

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Mek Global Limited

iFinex Inc.

Regulation

Not regulated

Year founded

2017

2012

Founder

Michael Gan

Jean

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kucoin	FEATURES	Bitfinex
KuCoin allows users to trade with small amounts, making it accessible for beginners or those trading on a budget.	Minimum Trade	Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.
KuCoin offers competitive fees, with low transaction costs compared to other exchanges.	Trading and Transaction Fees	Fees are competitive, but high withdrawal fees may deter frequent traders.
Supports over 600 cryptocurrencies, providing a wide range of options for traders.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, providing extensive trading options.
Offers a vast array of trading pairs, enhancing trading flexibility and opportunities.	Crypto-to-Crypto Trading Pairs	Extensive crypto-to-crypto pairings offer flexible trading strategies.
While generally transparent, improvements could be made in regulatory and security disclosures.	Website Transparency	Generally transparent with operational and security practices but could improve in fee structures.
The Kucoin card has a wide range of services, providing convenience and accessibility for in-store purchases, while facilitating the conversion of cryptocurrency to fiat money. It also provides cashback and other benefits. This feature enhances the user experience by expanding the possibilities of using cryptocurrencies in everyday life.	Credit/Debit Card	Bitfinex does not provide an exchange card for customers to use for in-store purchases.
Provides secure storage with advanced security features, though not as comprehensive as some specialized wallets.	Storage Offering	Provides secure storage options including cold storage, though it’s complex for beginners.
Offers competitive staking options and rewards, but not as extensive as some exclusively staking platforms.	Staking and Rewards	Offers competitive staking options and rewards, enhancing user investment potential.
Both platforms are well-designed, intuitive, and offer full trading functionality.	Mobile App and Desktop	Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.
Responsive and helpful, but sometimes experiences delays during peak times.	Customer Service	Customer service is available but response times can be slow during peak times.
Supports multiple deposit and withdrawal methods with relatively quick processing times.	Deposit and Withdraw	Efficient deposit methods; however, withdrawal policies can be restrictive and costly.

Key features

Analysis tools

Advanced charting tools, technical indicators

Advanced charting tools, multiple technical indicators, and APIs

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, KuCoin Earn

Margin trading, lending services, staking, Bitfinex Pulse (social network)

Anonymity

Yes

Key points

Available cryptocurrencies

400+

150+

User-friendliness

KuCoin offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

Value for money

Provides good value for money with competitive fees, a wide range of supported cryptocurrencies, and additional earning opportunities.

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Ideal for traders of all experience levels looking for a platform with a wide range of cryptocurrencies and competitive fees.

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Base currencies available

USD, BTC, USDT

USD, EUR, GBP, JPY, BTC, ETH, USDT

Account

Trading

KuCoin provides a wide range of cryptocurrencies and competitive fees. It offers advanced trading tools and a user-friendly interface, making it suitable for both beginners and experienced traders.

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

Deposit and withdrawal

KuCoin offers multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, with low fees.

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

Account opening process

KuCoin provides an easy and fast account opening process. Users need to provide personal information and verify their identity. The process is fully digital and usually completed within a day.

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking less than a day to complete.

KYC required?

Yes

Customer Service

KuCoin provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

Security

KuCoin provides robust security with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform for investors .

Which of these exchanges is for you?

Alejandro Borja

In concluding our comprehensive review of KuCoin as part of Threenvest’s analysis, it’s evident that KuCoin stands out as a formidable player in the global cryptocurrency market. With an expansive array of over 700 cryptocurrencies available for trade and a presence in over 200 countries, KuCoin offers a rich trading experience that caters to both novice traders and seasoned investors. The platform’s strength lies in its extensive selection of trading options which includes spot, margin, and futures trading, alongside advanced features like leveraged tokens and a robust API that appeals to a technologically savvy clientele. However, KuCoin’s lack of formal regulatory oversight in significant markets like the U.S. poses a considerable limitation, reflecting a critical area where it trails behind competitors that boast strong regulatory frameworks. From Threenvest’s perspective, while KuCoin demonstrates robust security measures and a commitment to user safety, exemplified by its recovery actions during the 2020 security breach, potential users should weigh these against the absence of regulatory assurances that can offer additional layers of protection. The platform’s innovative approach to customer service, extensive educational resources, and competitive fee structure further solidify its position as a top choice for users looking to explore the crypto space. However, the challenges associated with regulatory uncertainties and potential geo-restrictions should be carefully considered by anyone looking to engage with KuCoin. Overall, KuCoin’s offerings make it a worthy consideration for those seeking a comprehensive and dynamic trading platform, provided they are comfortable with the associated risks and limitations highlighted in this review.

Xavier Tarrasó

As an expert on our website, I recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.